The Volatility Forex Indicator 2 for Metatrader 4 measures market volatility and displays it on the trading chart as blue histogram bars.
The indicator can help you to pinpoint both trade entries and exits.
Key Points:
- Large blue histogram bars indicate increased market volatility.
- Small blue histogram bars indicate a sideways trading market.
It’s advised to combine this indicator with trend indicators (moving averages, Bollinger Bands,..) for better trade entry prediction.
Free Download:
Download the “Volatility indicator 2.mq4” indicator for MT4
Indicator Example Chart (EUR/USD H4)
The example chart below shows the Volatility Forex Indicator 2 in action.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy when trading with the custom built Volatility Forex Indicator 2.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Volatility
Does it repaint? No.
Download Now:
Download the “Volatility indicator 2.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.